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Press Release

W. P. Carey Announces EUR 86 Million Corporate Sale Leaseback Transaction With DTS

Company Release - 1/5/2011 8:00 AM ET

NEW YORK, NY and LONDON -- (MARKET WIRE) -- 01/05/11 -- W. P. Carey & Co. LLC (NYSE: WPC), the global investment management company that provides long term sale leaseback and build to suit financing for companies, today announced that one of its publicly-held, non-traded REIT affiliates, CPA®:17 - Global, has acquired the headquarters of Distribuidora de Television Digital S.A.U. (DTS), the largest provider of digital pay television in Spain, for a total consideration of approximately EUR 86 million ($113 million), including fees and expenses.

DTS is a subsidiary of Promotora de Informaciones S.A. (PRISA) and operates the group's Pay TV production and distribution activities. PRISA is listed on the Madrid Stock Exchange and is the largest media company in the Spanish and Portuguese speaking world.

Located in Madrid, constructed in 2008 and comprised of both office and television production space, the facility has been leased back to DTS under a 20-year triple-net lease. The DTS headquarters is a critical asset for PRISA's Pay TV business.

The transaction was completed as part of PRISA's restructuring and debt reduction efforts, which includes the sale of a 22% stake in the Pay TV business to Telefonica, Spain's largest telecommunications company, and Telecinco, the largest private, Free-To-Air TV network in Spain. In addition, PRISA recently entered into an agreement with US-based Liberty Acquisition Holdings Corporation under which Liberty acquired a stake of approximately 30% of PRISA's equity.

W. P. Carey Director Jennifer Lucas said:

"W. P. Carey is pleased to be acquiring a critical asset of one of Spain's largest and most prominent companies. We see the current environment as an opportune time to build relationships and provide capital to solid companies in the European market. Our long term partnering approach is appealing to companies such as DTS who are looking to access capital for investment in their current and future core business strategies."

Aguirre Newman was the adviser to W. P. Carey for the transaction and CBRE was the adviser to PRISA.

Notes to editors:

In recent months, W. P. Carey has completed the following sale leaseback transactions in Europe:

  • Neuca SA, Poland
    • August 2010; W. P. Carey provided build to suit financing for a facility to be built for Panattoni Europe and leased by Neuca SA in Poznan, Poland.
  • Eroski, Spain
    • June 2010; W. P. Carey completed the sale leaseback of two warehouse logistics facilities in Elorrio and Mallorca, Spain, for EUR 46 million ($55 million) in June, following a EUR 74 million ($104 million) sale leaseback that was completed with Eroski over two tranches in February 2010 and December 2009.
  • Agrokor, Croatia
    • April 2010; W. P. Carey acquired two office and logistics facilities in Zagreb, Croatia. The transaction was W. P. Carey's first in Croatia and was for a total consideration of EUR 77 million ($101 million).
  • TDG, UK
    • May 2010; W. P. Carey completed a £24 million ($37 million) sale leaseback transaction with TDG Limited for a portfolio of cold storage facilities.
  • OBI, Poland
    • October 2009; W. P. Carey entered into a sale leaseback transaction with the OBI Group totaling approximately EUR 10 million ($15 million).

About W. P. Carey & Co. LLC
W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that provides long term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $10 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 275 long term corporate obligors spanning 28 industries and 16 countries. http://www.wpcarey.com

This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.

For W. P. Carey & Co. LLC:

Rosanne Perry
+44 207 861 3863
Email Contact

Guy Lawrence
Ross & Lawrence
+ 1 212-308-3333
Email Contact

Kristina McMenamin
+ 1 212-492-8995
Email Contact

Source: W. P. Carey & Co. LLC


Investor Contacts

Institutional Investors

Peter Sands
Director of Institutional IR
W. P. Carey Inc.
1 (212) 492-1110

Capital Markets

Jeremiah Gregory
Head of Capital Markets
W. P. Carey Inc.
1 (212) 492-1135

Individual Investors

Investor Relations Department
1 (800) WP CAREY (972-2739)

Transfer Agent

W. P. Carey Inc.
Shareowner Services
PO Box 505000
Louisville, KY 40233-5000
1 (888) 200-8690

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